Lucas Group sold to Orchard Holdings

Livingstone‘s Business Services sector team advised the shareholders of Lucas Group, a portfolio company of trans-Atlantic private equity house H.I.G. Capital, on its sale to Orchard Holdings Group.

Andi Jennings, President and CEO of Lucas Group, commented: “Orchard is a high-integrity investment group. They will provide the financial support for Lucas Group’s enduring success. We are thrilled to embark on this exciting journey with Orchard.”

Lucas Group is the nation’s largest mid-management recruitment firm, with supporting business lines in military transition and contract staffing. Founded in 1970, the Company comprises 14 offices nationwide and over 325 consultants focused on placing mid-management professionals into positions at SMEs, as well as larger groups.

“Orchard’s primary objective is to partner with exceptional management teams and build durable, successful businesses. Lucas Group represents exactly that kind of opportunity,” said Pete Boylan, Co-Founder and Managing Director of Orchard Holdings. “Under its current leadership and strategy, Lucas Group has the capacity to continue to expand its business and gain market share in the outsourced human resources services industry. We are excited about our new partnership with this impressive team.”

Family offices have become increasingly active investors, and a source of alternative funding for businesses looking for funding, with which Livingstone is having success. Over the last 12 months, Livingstone has completed three deals backed by family office investors.

Partner at Livingstone Chicago Steve Miles added: “We are proud to have represented Lucas Group and H.I.G. on this private equity exit and to post another successful sale to a financial buyer for an important client. Adding H.I.G. to our growing list of satisfied private equity clients is a tremendous addition to Livingstone’s resume.”